Wear Inns pub portfolio put up for sale by administrators

Twenty-five pubs that made up the Wear Inns portfolio have been brought to the market after falling into administration.

Wear Inns was acquired by real estate firm Apriprose for £22.4m in 2018 which said it was aiming to build "a pub group of scale".

However, administrators Interpath Advisory was appointed to the pubs’ operator Milton Three Pub Group in November. The firm said at the time all 264 members of staff had been retained to assist with trading.

The 25 north-east and Yorkshire-based pubs, which remained open throughout the Christmas period, have now been brought to market by Avison Young and Watling Real Estate.

Emma Turnbull, associate director at Avison Young’s Newcastle office, said: “This sale offers a rare opportunity for a wide range of purchasers to acquire an established, strong performing pub group in a fairly tight geographic area and with a quality track record.

“The pubs have been well managed since our client’s appointment and have traded well over the festive period. We anticipate a strong level of demand and expect a busy marketing campaign.”

The pubs comprise 21 freeholds and four long leaseholds.

Agents have said they anticipate receiving multiple offers and welcome interest for the group as a whole as well as smaller packages or individual sites.

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